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Politics : Politics for Pros- moderated -- Ignore unavailable to you. Want to Upgrade?

To: Tom Clarke who wrote (255152)	6/20/2008 8:22:19 PM
From: Tom Clarke	Read Replies (1) \| Respond to of 793913

Dodd Tops Lender's Contributions List By JESSE A. HAMILTON Washington Bureau Chief June 19, 2008 WASHINGTON — A nonpartisan government watchdog group Wednesday listed U.S. Sen. Christopher Dodd as the Senate's No. 1 recipient of campaign contributions from Countrywide Financial Corp. in the last two decades. The Center for Responsive Politics examined the mortgage lender's relationship with members of Congress after revelations that Countrywide Financial Corp.'s CEO ran a program to give beneficial rates and discounts on mortgages to prominent people such as Dodd. Though Dodd was the Senate's leading recipient of campaign contributions from Countrywide's political-action committee, the overall career amount of $25,000 is very small when compared with the senator's leading contributors. For instance, his career contributions from Citigroup Inc. total $439,094. The political research center, which posted the report on its website at OpenSecrets.org, also said Dodd had received $15,000 from Countrywide for his presidential campaign. But it's not the campaign contributions that have drawn political fire to Dodd in the last week. He was said in media reports to have benefited from CEO Angelo Mozilo's VIP program when he and his wife refinanced two mortgages in 2003. He admitted Tuesday that he was put in a VIP program, but he said he wasn't aware it was because of his prominent position. Dodd is the chairman of the Senate banking committee that regulates the mortgage industry. For several months, much of Dodd's Senate life has been taken up by a legislative fix to the nation's housing crisis — a crisis he has said was encouraged by the irresponsible lending practices of companies such as Countrywide. Though Dodd wasn't alone on the list of officials who benefited, which included Sen. Kent Conrad, chairman of the Senate budget committee, Dodd's position meant he attracted a lot of the ensuing attention. Based on the media reports, Citizens for Responsibility and Ethics in Washington sent official complaint letters to the House and Senate ethics committees. The complaint letter to the Senate committee, signed by the group's executive director, Melanie Sloan, said, "Although there is no evidence that either Sen. Dodd or Sen. Conrad has used his official position to benefit Countrywide or Mr. Mozilo, their receipt of the unusually favorable loans creates exactly the sort of appearance of impropriety that the gift rule was designed to address." Sen. Barbara Boxer, D-Calif., chairwoman of the ethics committee, confirmed to The Washington Post that the committee is conducting an inquiry into the complaint. But it's difficult to weigh how much credence it will be given. Boxer's communications director, Natalie Ravitz, said Wednesday, "Any time a complaint is filed with the Senate ethics committee, we take a look at it." Dodd's spokesman, Bryan DeAngelis, said Wednesday: "As the senator said at his press conference yesterday, if the ethics committee requests any information, he will be more than happy to share it." But when DeAngelis was asked whether Dodd would be making any of his mortgage paperwork public, he said he had no further comment. Meanwhile, the housing-crisis bill Dodd shepherded through his banking committee — according to Senate Majority Leader Harry Reid — is set to hit the Senate floor this morning. As a cloud of questions hangs over Dodd's head, he will be trying to marshal support for the legislation he hopes will fix the problem that so many people are having with paying their mortgage bills. Contact Jesse A. Hamilton at jhamilton@courant.com courant.com